Rayonier (NYSE:RYN) Hits New 1-Year Low – Should You Sell?

Shares of Rayonier Inc. (NYSE:RYN) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.25 and last traded at $27.25, with a volume of 301910 shares. The stock had previously closed at $27.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RYN shares. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial increased their target price on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th.

Rayonier Price Performance

The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average price is $30.83 and its 200 day moving average price is $30.40. The stock has a market cap of $3.94 billion, a PE ratio of 24.92 and a beta of 1.02.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. As a group, equities analysts expect that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th will be paid a $1.80 dividend. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is presently 107.55%.

Rayonier announced that its Board of Directors has authorized a stock repurchase program on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Rayonier

Hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Rayonier during the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC raised its position in Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 672 shares during the period. Quest Partners LLC bought a new stake in shares of Rayonier in the 2nd quarter valued at approximately $40,000. Blue Trust Inc. boosted its holdings in shares of Rayonier by 539.9% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,042 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Rayonier by 83.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 660 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Company Profile

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.